Tom Lee: S&P 500 Index may rise to 7700 points in the short term

According to Fundstrat strategist Tom Lee in an interview with CNBC, the current market is in a cycle that may be divided into three stages. In the short term, the S&P 500 index may rise from the current 7560 points to around 7700 points, but it may then enter a "digestion period". As of early June, the S&P 500 index has risen 11% this year, with better than expected corporate earnings being a key driving factor. The actual earnings per share for the first quarter were about $80, higher than the expected $70. An additional $40 in earnings per share for the whole year could theoretically drive the index up another 800 to 1000 points. He pointed out that the market needs to digest factors such as the uncertainty of Federal Reserve policies, energy shocks, and the lifting of IPO restrictions for multiple companies.